Alex Goldmark is a senior producer in the newsroom for New Tech City and Transportation Nation.
Consumer Reports: High Fuel Costs Reduce Car Sales
Wednesday, May 25, 2011 - 11:58 AM
(Alex Goldmark, Transportation Nation) Just after we get news of the new fuel economy sticker for cars, this comes in from Consumer Reports, saying they've surveyed drivers and found higher fuel costs in recent years have led to a drop in car sales.
From Consumer Reports:
"The Consumer Reports National Research Center conducted 1,764 random, nationwide telephone interviews of adult car owners from April 28-May 2, 2011."
"The economy has caused a significant drop in annual car sales over recent years, and the age of the average car driven by respondents has increased to eight years. This trend was consistent across most demographics, though household income was a key factor. In households earning $50,000 or more a year, the average age of their cars was six years, whereas lower-income households drove 10-year-old vehicles on average. A significant 23 percent of surveyed motorists are driving cars from the 1990s, many of which must be at the tail end of their reliable service life and certainly well behind current safety standards."
Read more at Consumer Reports.
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